Type: Indicator, Name: TFS Tether Line
Input: Length(50);
Variables: HighVal(0), LowVal(0), Tether(0);

HighVal = Highest(High, Length);
LowVal = Lowest(Low, Length);
Tether = (HighVal + LowVal) / 2;

Plot1(Tether, "Tether");






Chart style:

PlotName Style Weight
Tether Line thinnest

Scaling: Same as symbol

The next indicator is the volume oscillator indicator.


Type: Indicator, Name: TFS Vol Osc Avg
Input: AvgLength(7);
Variables: VolAccum(0), VolOsc(0);

VolAccum = 0;

For value1 = 0 To AvgLength -1 Begin
If Close[value1] > Open[value1] Then
VolAccum = VolAccum + Volume[value1];
If Close[value1] < Open[value1] Then
VolAccum = VolAccum - Volume[value1];
End;

VolOsc = VolAccum / AvgLength;
Plot1(VolOsc, "Vol Osc");
Plot2(0, "ZeroLine");






Chart Style:

PlotName Style Weight
Vol Osc Histogram thinnest
ZeroLine Line thinnest

Scaling: Screen

The third indicator is the MBO indicator.



Type: Indicator, Name: TFS MBO Indicator

Inputs: FastAvg(25), SlowAvg(200);
Variable: MBO(0);

MBO = Average(Close, FastAvg) - Average(Close, SlowAvg);

Plot1(MBO, "MBO");
Plot2(0, "ZeroLine");






Chart style:

PlotName Style Weight
MBO Histogram thinnest
ZeroLine Line thinnest

Scaling: Screen




Type: Signal, Name: TFS Signal

Inputs: TetherLen(50), OscAvgLength(7), MBOFastAvg(25), MBOSlowAvg(200);
Variables: MBO(0), Tether(0), VolAccum(0), VolOsc(0);

VolAccum = 0;
For value1 = 0 To OscAvgLength -1 Begin
If Close[value1] > Open[value1] Then
VolAccum = VolAccum + Volume[value1];
If Close[value1] < Open[value1] Then
VolAccum = VolAccum - Volume[value1];
End;

Tether = (Highest(High, TetherLen) + Lowest(Low, TetherLen)) / 2;
MBO = Average(Close, MBOFastAvg) - Average(Close, MBOSlowAvg);
VolOsc = VolAccum / OscAvgLength;

{Entry Conditions}
Condition1 = Close Crosses Above Tether;
Condition2 = VolOsc > 0;
Condition3 = MBO > MBO[1];

If Condition1 AND Condition2 AND Condition3 Then
Buy Next Bar at Market;

{Trailing Exit}
If Close Crosses Below Tether Then
ExitLong Next Bar at Market;